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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
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